Forex trading strategy #10 (Egudu EMA+ADX Strategy)
Submitted by User on December 18, 2007 - 15:06.
The following Forex strategy was submitted by Egudu - our valued contributor. Thank you once again and let the market be always on your side!
Hi, this is Egudu, and i have this simple but efficient strategy and i hope you enjoy using it.
Currency: any
Time frame: 1hr
Indicators: 5EMA(close), 6EMA(open), [ADX(14) at 20mark]
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dear egudu,
thanks for the system. but how do i know the 1 pip difference between the 5ema and 6 ema.
akinkunmi
This option is available for MT4 traders. For Oanda users 5 and 7 EMA would probably be the closes values here.
Regards,
Edward
How do you set 5EMA(close) and 6EMA(open) on Oanda FXTRADE? I don't see an option to change it from open to close. If it's not possible, would a 5EMA and 7EMA setting work as a substitute?
thanks,
Chris
Hi Rotimi,
it's good to know that the strategy has been of help to you, and the modification that's cool, but i would also say you keep it that simple,ok. thanks,
Egudu.
Rotimi,
thanks, that would be nice,let me know if i could help you in any way, my email is
willks2k3 at yahoo.com
Egudu.
Dear Egudu,
I added the following and i made over 200pips in a day
1. enter long only if MACD is above zero
2. enter short only if MACD is below zero
I also added this to ADX
1. D+ must be above D- for long
2. D- must be above D+ for short
Rotimi
Dear Egudu,
This system is simple and efficient.I love it. I am thinking of writing an EA for it.
Rotimi
Shaun,
it's even much better when the pip difference is more than a pip to enter a position.
Egudu.
Hi Ele,
i would say you exit your position when the ADX starts bending and the 5 and 6 moving averages have crossed.
egudu
Dear Egudu,
the width difference between them is a pip? If it is more than 1 pip, can we still enter?
Best Regards,
Shaun
Dear sir,
Great system,would you tell how to exit with such signals
Best regards,
Ele
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